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8090 [49]
3 years ago
10

On July 1, 2017, Torvill Construction Company Inc. contracted to build an office building for Gumbel Corp. for a total contract

price of $1,672,000. On July 1, Torvill estimated that it would take between 2 and 3 years to complete the building. On December 31, 2019, the building was deemed substantially completed. Following are accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Gumbel for 2017, 2018, and 2019.
Business
1 answer:
a_sh-v [17]3 years ago
7 0
What is your question? :)
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When offered paid medical insurance——-consider benefit?
Verdich [7]
I believe the answer is B
5 0
3 years ago
Read 2 more answers
A company paid $517,000 to purchase equipment and $16,700 to have the equipment delivered to and installed in the company's prod
Maslowich

Answer:

Using the units-of-production method, the amount of depreciation expense would the company report in the income statement prepared for the year-ended October 31, 2018 = $ 228899

Explanation:

Given

Acquisition Cost of Equipment = $ 517,000+ $ 16700= $ 533,700

Total units of production= 29,700 hours

Residual Value = $ 6700

Units of Production= 12,900 hours

Formula:

Depreciation per unit= (Cost -Salvage value) / Total units of production* Units of Production

Depreciation per unit= ($ 533,700 - 6700/ 29700)*12900

Depreciation per unit=($ 52,7000 / 29700)*12900

Depreciation per unit=( 17.744)*12900

Depreciation per unit= 228898.98= $ 228899

As units of production are given we do not need to calculate it for half year. The depreciation is calculated for units of production.

5 0
3 years ago
Describe the importance of employee benefits as a strategic component of fulfilling the goals of hrm?
Tanya [424]

Employee benefits have become more significant and diverse

Employee benefits

  • Typically, membership-based incentives are provided to recruit and retain staff.
  • Although they have no direct impact on a worker's performance, insufficient benefits make workers unhappy.

The Price of Offering Employee Benefits

  • The cost of benefits and services is around 40% of an organization's payroll expense.
  • When significant wage and salary increases are not possible, benefits become the main topic of discussion with employees.

Community Security

  • Funded by equal contributions from the employer and the employee, based on a percentage of wages.
  • Offers retirement income, income for disabled workers, and money for surviving dependents.
  • offers Medicare some health insurance coverage.

Unemployment Insurance

  • Employers who pay both federal and state taxes on the taxable wage base provide the funding.
  • Tax rates vary depending on an organization's history with unemployment.

learn more about Employee Benefits here

brainly.com/question/15177448

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7 0
2 years ago
A land development company is considering the purchase of earth-moving equipment. This equipment will have an estimated first co
liraira [26]

Answer:

Explanation:

Let the number of days per year that the company will need the equipment in order to justify its purchase b represented by x.

Based on the information given, this will then be:

1130x + 180x = 199000(A/P, 10%,10) - 65000(A/F, 10%, 10), + 32000 + 220x

1310x = 199000(0.1627) - 65000(0.0627) + 32000 + 20x

1310x - 20x = 32377.3 - 4075.5 + 32000

1290x = 60301.8

x = 60301.8/1290

x = 46.75

Therefore, the answer is 46.75 days.

6 0
3 years ago
A company scientist at a biotechnology company decides to work on his own research project, hoping to eventually start his own f
bogdanovich [222]

Answer:

C. Moral hazard.

Explanation:

Moral hazard is the risk that a party has not gone into an agreement in compliance with common decency or has given deceiving data about its assets, liabilities, or credit capacity. Moral hazards can be available whenever two parties come into concurrence with each other. Each party in an agreement may have the chance to pick up from acting in opposition to the standards spread out by the agreement.

3 0
3 years ago
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